GE expresses interest in Pakistan

Updated 03 Dec 2014

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The logo of the GE Money Bank is seen behind a traffic light in Prague. — Reuters/File
The logo of the GE Money Bank is seen behind a traffic light in Prague. — Reuters/File

ISLAMABAD: In a major shift, Pakistan Railways (PR) is engaging US companies for improvement of crippling rail system, sources told Dawn on Tuesday.

Since it came into power, the government has mostly been depending on Chinese firms for purchase of locomotives, spare parts and other equipments.

However, now it is said to be looking towards US companies for improving the railways.

On Tuesday, a delegation of General Electric (GE) met President Mamnoon Hussain, followed by a detailed meeting with Railway Minister Khawaja Saad Rafiq and other senior officials of PR.

The GE delegation was led by its Chief Financial Officer Frederick Beras.

The US firm is taking keen interest in many projects in Pakistan especially in power and railway sectors.

Meanwhile, sources said that Rafique is not happy with the performance of Chinese firms.

When contacted, Secretary Railways Ministry Perveen Agha told Dawn that a GE delegation gave a detailed briefing to the minister and showed keen interest in many railway projects.

“We also apprised the company about the upcoming plans and invited it to participate in the bidding process,” she said.

Published in Dawn December 3rd , 2014